Leading Economic Indicators Rise for Seventh Month

An index of leading economic indicators rose 0.3% in October, marking the seventh straight gain, the New York-based Conference Board said Thursday.

The increase followed a 1% increase in September, the group said.

The LEI index was projected to rise 0.4% and a rally in stocks and slowing job losses are giving consumers more confidence to spend as the year-end holiday season approaches, Bloomberg reported.

The LEI is closely watched by trucking companies because it forecasts business activity for the next three to six months.